Camden Property Trust (NYSE:CPT – Get Free Report)‘s stock had its “sector perform” rating restated by equities researchers at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They presently have a $121.00 target price on the real estate investment trust’s stock. Royal Bank of Canada’s target price suggests a potential upside of 8.84% from the stock’s current price.
CPT has been the subject of several other research reports. Barclays assumed coverage on shares of Camden Property Trust in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $138.00 price objective for the company. Jefferies Financial Group assumed coverage on shares of Camden Property Trust in a research note on Friday, October 11th. They set a “hold” rating and a $123.00 price target for the company. Mizuho dropped their price target on shares of Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Scotiabank dropped their price target on shares of Camden Property Trust from $132.00 to $130.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. downgraded shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $129.00 to $128.00 in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Camden Property Trust has a consensus rating of “Hold” and an average price target of $126.42.
Read Our Latest Stock Analysis on Camden Property Trust
Camden Property Trust Price Performance
Insiders Place Their Bets
In related news, Director Heather J. Brunner sold 264 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total transaction of $29,055.84. Following the completion of the transaction, the director now owns 10,273 shares of the company’s stock, valued at approximately $1,130,646.38. The trade was a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard J. Campo sold 1,043 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total transaction of $114,792.58. Following the transaction, the chief executive officer now directly owns 299,092 shares of the company’s stock, valued at approximately $32,918,065.52. This represents a 0.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,413 shares of company stock valued at $2,895,718. Company insiders own 1.90% of the company’s stock.
Hedge Funds Weigh In On Camden Property Trust
A number of institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. bought a new position in shares of Camden Property Trust during the 2nd quarter valued at $33,000. Canada Pension Plan Investment Board grew its holdings in shares of Camden Property Trust by 2,307.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 93,900 shares of the real estate investment trust’s stock valued at $10,245,000 after purchasing an additional 90,000 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Camden Property Trust by 4.8% during the 2nd quarter. Pacer Advisors Inc. now owns 7,593 shares of the real estate investment trust’s stock valued at $828,000 after purchasing an additional 345 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Camden Property Trust by 0.5% during the 2nd quarter. ProShare Advisors LLC now owns 31,349 shares of the real estate investment trust’s stock valued at $3,420,000 after purchasing an additional 146 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in Camden Property Trust by 15.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 14,776 shares of the real estate investment trust’s stock valued at $1,612,000 after buying an additional 1,990 shares during the period. Institutional investors own 97.22% of the company’s stock.
About Camden Property Trust
Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,250 apartment homes across the United States.
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